Portuguese mutual funds assets declined in 2016

Portuguese mutual funds assets declined in 2016

Total net assets of Portuguese mutual funds stood at €1.1bn by the end of December last year, which represents a 7% decrease over the same time the previous year. When compared with the previous month, however, assets increased by 2.3%.

In December 2016, Portuguese mutual funds recorded net inflows of €453.9m, while net outflows amounted to €291.9m. There was also an outflow of €1.1m that derived from the liquidation of one fund. Therefore, there was a total outflow of €293m, which resulted in monthly net sales of €160.9m.

During the month there was no new fund launches and the fund BPI Poupança Acções was liquidated. Therefore, the number of active mutual funds dropped to 174, one less than at the end of the previous month.

Total net sales registered in 2016 were negative, reaching a total of -€923m.

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